Dec 19, 2014 - UK energy group Centrica plc (LON:CNA) has sold its 50% stake in the 90-MW Barrow wind park in the East Irish Sea and has also cancelled the existing deal for the purchase of the plant’s output.
Centrica said in a statement on Friday it has disposed of its shareholding to the wind farm operator and owner of the other 50% -- Danish utility Dong Energy A/S. At the same time, the company has terminated the existing power purchase agreement (PPA) tied to the Barrow wind park.
The vendor will receive a total of GBP 50 million (USD 78.2m/EUR 63.8m) in cash as part of the deal, which reflects its strategy to release capital from its portfolio of operating UK wind parks.
Centrica continues to hold 50% stakes in two other wind farms off UK, namely the 270-MW Lincs and the 194-MW Lynn and Inner Dowsing plants. In addition, it owns half of the 26-MW Glens of Foudland onshore wind park in Aberdeenshire, Scotland.